Tesla has veered away from its ambitious plans for next-generation gigacasting, a new manufacturing technique, Reuters reported citing sources familiar with the matter.
This decision is Tesla's attempt to adapt to a shifting market landscape marked by declining sales and heightened competition.
Hong Kong marked a milestone in its ambition to become a regional hub for virtual asset investment as it commenced trading Asia's inaugural spot bitcoin and ether exchange-traded funds (ETFs) on Tuesday.
This move follows the US, which paved the way for mainstream investors to incorporate Bitcoin into their portfolios through ETFs pegged to the cryptocurrency's spot price.
Singapore Telecommunications (Singtel) anticipates a huge non-cash impairment of S$3.1 billion (equivalent to $2.28 billion) for the latter half of 2024, indicating an impending net loss for the period.
According to Reuters, the telecom company also warned of a diminished net profit for the full year concluding on March 31, 2024.
In recent weeks, Google has terminated multiple employees as part of its cost-cutting efforts. The most recent layoffs targeted the entire Python team, a move reportedly made to reduce expenses by hiring cheaper labour outside the United States, as reported by the Free Press Journal.
The report said that Google would establish a new team in Munich, Germany, to serve as more cost-effective labour.
Ships navigating around the Red Sea due to ongoing security threats from Houthi rebels are contributing to carbon emissions, posing challenges for companies attempting to reduce pollution in their supply chains, Bloomberg News reported.
TikTok's CEO, Shou Zi Chew, remains undeterred in the face of the recent legislative moves aimed at banning the popular short video app in the US, Reuters reported on Wednesday.
President Joe Biden's signing of a bill, which mandates China-based ByteDance to divest TikTok's US assets within 270 days or face a ban, has ignited a legal battle that Chew believes TikTok will emerge victorious from.
The Democratic Republic of Congo (DRC) has formally accused Apple of incorporating minerals sourced from its conflict-ridden eastern region into its products, sparking concerns over ethical sourcing practices.
As reported by AFP, lawyers representing the DRC have issued a cease-and-desist notice to Apple, alleging the illegal exploitation of minerals and warning of potential legal action if the practice persists.
McKinsey & Co, the renowned consulting firm, is currently under scrutiny of a criminal investigation in the US, with federal prosecutors probing into allegations that the firm played a major role in aggravating the opioid epidemic.
Meta Platforms, the parent company of Facebook and Instagram, faced a downturn in its stock value on Wednesday as it revealed projections of increased expenses and revenue figures below market expectations.
India has initiated inspections at the facilities of spice makers MDH and Everest following allegations of contamination, prompted by Hong Kong's suspension of sales for certain products due to purportedly high levels of a cancer-causing pesticide.